Make sure you have a decent accountant, or bookkeeper at least. Someone who knows all the byzantine inland revenue tricks, and can keep as much of your money out of their hands (legally) as possible. Believe me, it's worth it. The first year I was self-employed this current time around my guy turned a self-calculated £3500 owed to the government into £500 owed to me BY the government In one go he paid for his fees for the next fifteen years.

There are so many rules, and they change so often, it's a full-time job keeping up with them all. Get someone whose full-time job it is to keep up.

The one time I was a director of a limited company it was such a pain in the backside I'd avoid it if at all possible. There was so much paperwork, from customs and excise, inland revenue, works and pensions, and so on, that I had little time left to earn the money they wanted from us That said, I was dropped in at the deep end. It may well be possible to sort it out more easily, but the phone-book sized lump of papers that came through the letterbox each month was truly impressive. And worrying.

pca